of the money from the school whereby he will pay 4.5% simple interest. He borrows the rest of the money through a government grant that will charge him 5.5% simple interest. In both cases, he is not required to pay off the principle amount or interest during his 4 years of medical school. However, at the end of 4 years, he will owe a total of 17,400 for the interest from both loans. How much did he borrow from each source?
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Juan borrows a total of 90,000 to pay for medical school. He borrows part of the money from the school whereby he will pay 4.5% simple interest. He borrows the rest of the money through a government grant that will charge him 5.5% simple interest. In both cases, he is not required to pay off the principle amount or interest during his 4 years of medical school. However, at the end of 4 years, he will owe a total of 17,400 for the interest from both loans. How much did he borrow from each source?
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